Inflation Rose To 8.7% In April – NBS | Independent Newspapers Limited
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Inflation Rose To 8.7% In April – NBS

Posted: May 15, 2015 at 1:12 am   /   by   /   comments (0)

By Chibuzor Emejor –  Abuja


The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI) which measures inflation, rose by 8.7 per cent in April, from 8.5 per cent in March.

Statistician General of the Federation, Dr. Yemi Kale, was on Thursday quoted as saying that this is the fifth consecutive month of a faster increase in the Headline index to reach the highest inflation rate recorded for the year.

The NBS said the Headline rate for April also equals the highest rate recorded since July 2013.

The statistical agency noted that “The faster pace of the headline index was as a result of increases in most Classification of Individual Consumption by Purpose [CIOCOP] Divisions which contribute to the headline index, with the exception of slower increases in Recreation and Culture and Communications Division.